PrivateStudent Loans

Get the private student loan that fits your life

Looking to make financing your education easy and affordable? Ask a Citizen. Our Citizens Bank Student Loan™ is available for undergraduate and graduate students. With an average fee savings of $6041 our student loan is a better alternative to Federal Direct PLUS Loans. Review available discounts and terms below—then start your private student loan application today.

NEW Multi Year Borrowing Option

Qualified borrowers have access to a simplified, streamlined process to request funds in subsequent years. Terms and Conditions apply.2 Applicants who qualify will be presented with the Multi Year Borrowing Option in the application.

Our college student loan details

 You will be eligible for a 0.25 percentage point interest rate reduction on a new Citizens Bank Student
Loan if you or your co-signer (if applicable) has a Citizens Bank Student Loan or qualifying account
in existence with us when you apply for a student loan.3
 During periods when payments are due, you will be eligible to receive a 0.25 percentage point interest rate
reduction on your loan by authorizing our loan servicer to automatically deduct your payments each
month from any bank account you designate.3

All together, you could save up to 0.50 percentage points on your interest rate.3

 Be a U.S. citizen or permanent resident
 Be enrolled at least half time in a degree-granting program at an eligible institution
 Have good credit or have a qualified co-signer
 Have attained the age of majority in your state of residence or if you have not met the age of majority in
your state of residence, a co-signer will be required

International students can apply for the Citizens Bank Student Loan with a creditworthy U.S. citizen or permanent resident co-signer.

For students with little or no credit history, we strongly suggest that you apply with a qualified co-signer to increase your chances of being approved. A qualified co-signer may also help you secure a lower interest rate on your private student loan.

Co-signers can now start the student loan application online.

When your loan payments become due, borrowers may apply to release the co-signer from their loan after making 36 consecutive on-time payments of principal and interest.4

Submit the fast, easy Citizens Bank Student Loan application online. You can even e-sign. If you’re applying with a co-signer (which we recommend to improve your chances of approval and to get the best available rates), he or she can also start the application online.

Things you’ll need for the student loan application:

• Name, address, phone number, email address
• Date of birth
• Social Security Number
• Recent pay stub (no more than 60 days old) or other proof of income and monthly housing payment.
• Employer name, phone number and length of employment (if applicable)
• Name of school you plan to attend
• Cost of attendance and any financial aid received (see award letter from your school)
• Student’s anticipated graduation date, loan period and loan amount
needed.
• Student borrowers will need to provide a reference.
• Co-signer name and valid email address (if applicable)

You may borrow up to the maximum qualified loan amount or the total cost of education, whichever is lower. Our student loan does have lifetime aggregate limits (including both federal and private loan debt) of:

Yes. Our Citizens Bank Student Loan can be used to help pay for your indirect costs while you are enrolled in school. The maximum you can borrow each year is determined by your individual school through loan certification.

With our new Multi Year Borrowing Option, qualified borrowers can now lock in terms to reserve the loan for multiple years.2 As the only national lender to offer this option, we’re committed to staying with you all the way to graduation day.

If you apply for a private student loan on your own, without a co-signer, and are denied, it may be because you have an insufficient personal credit history, which is typical for a student. If you are denied, you can add a qualified co-signer to increase your chances of approval and receiving the lowest rate possible.

1 Average savings of $604 are calculated using the 2015/2016 Award Year Federal Direct PLUS Loan program reporting (as of 5/11/2016 for quarter ending March 31, 2016 not including Grad PLUS) of originations of ~$11.4 billion to 802,968 borrowers through 873,729 loans with an average loan size of $14,133.84. Average fee savings is possible with either private student loan option we offer, including the Citizens Bank Student Loan™ or the Citizens Bank Student Loan™ for Parents.

U.S. Dept. of Education. The loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement. Origination fee of 4.272% is valid through September 30, 2016. For Loans first disbursed between October 1, 2016 and September 30, 2017 the origination fee is 4.276%

2 Borrowers need to remain credit qualified in order to access funds in subsequent years. We reserve the right to discontinue this loan program at any time. If we do so, we will provide you with advance notice. If you enroll in this loan program, your Promissory Note will describe the complete terms, conditions and limitations of the program.

3Interest rate reduction of up to 0.50 percentage points is possible with the following discounts:

LOYALTY DISCOUNT: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, or other student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI and VT. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan, and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.

AUTOMATIC PAYMENT BENEFIT: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Benefit is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this benefit.

4 Borrowers may apply for co-signer release after making 36 consecutive on-time payments of principal and interest. For the purpose of the application for co-signer release, on-time payments are defined as payments received within 15 days of the due date. Interest only payments do not qualify. The borrower must meet certain credit and eligibility guidelines when applying for the co-signer release. Borrowers must complete an application for release and provide income verification documents as part of the review. Borrowers who use deferment or forbearance will need to make 36 consecutive on-time payments after reentering repayment to qualify for release. The borrower applying for co-signer release must be a U.S. citizen or permanent resident. If an application for co-signer release is denied, the borrower may not reapply for co-signer release until at least one year from the date the application for co-signer release was received. Terms and conditions apply.

Citizens Bank Student Loan™: Borrowers must be enrolled at least half-time in a degree-granting program at an eligible institution. Borrowers must be a U.S. citizen or permanent resident or an international borrower with a creditworthy U.S. citizen or permanent resident co-signer. For borrowers who have not attained the age of majority in their state of residence, a co-signer will be required. Citizens Bank reserves the right to modify or discontinue these benefits at any time. Any changes to these benefits will not affect loans issued prior to the change date. Rates subject to change. Citizens Bank private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and – if applicable – self-certification form, school certification of loan amount, and student’s enrollment at a Citizens Bank-participating school. Please Note: International Students are not eligible to receive an offer for the Multi Year Borrowing Option.

Rates and offer subject to change. All accounts, loans, and services are subject to individual approval.